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Feb 4, 2013
02/13
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what is the source of the real income of the economy? the goods that the economy produces. kuznets' studies illuminated the structure of the economy, but also they did more. imagine trying to plan a major war effort without knowing the size of the real gnp that your economy is producing. as the nation prepared for world war ii, this was no academic question. the militarists of berlin and tokyo started this war, but the massed, angered forces of common humanity will finish it. january 6, 1942. president franklin roosevelt is giving the country its marching orders. the success of those orders in winning world war ii depended on the american economy. for months, the issue of how to prepare for war without actually fighting swung back and forth from congress to the white house. economists were trying to answer the critical question, how much could the economy produce and how fast? german armies moved through europe in 1940, pushing allied forces into the sea at dunkirk. fdr took only tentative steps because of pressures to keep america out of war. in 1940, congress agreed to on
what is the source of the real income of the economy? the goods that the economy produces. kuznets' studies illuminated the structure of the economy, but also they did more. imagine trying to plan a major war effort without knowing the size of the real gnp that your economy is producing. as the nation prepared for world war ii, this was no academic question. the militarists of berlin and tokyo started this war, but the massed, angered forces of common humanity will finish it. january 6, 1942....
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that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global g.d.p. is sixty trillion there's ten times more debt just a notable basis if you add in the flow derivatives there's twenty times more debt than there is actual g.d.p. there is no economy there there's no collateral there is just flow it's just flow it's frozen flow got to ring the fraud it's truckload to bluff after the f q f q f u q. it's fraud low fi that's all there is to it that's what they generate to generate their salary bonuses that's all or is well this finance minister after saying that they're a credible country they're a solvent country they're a recovering country it's all fine he then
that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global...
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with whether the economy is bankrupt or not bankrupt assaut about having an accounting of the economy with inputs and outputs and a g.d.p. that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe or economy in the world because there are six hundred trillion derivatives the total total global g.d.p. is sixty trillion there's ten times more debt just a nominal basis if you add in the float derivatives there's twenty times more debt than there is actual g.d.p. there is no economy there there's no collateral there it's just flow it's just flow it's frozen flow got to ring of fraud it's fraud float trip left after the f a q f q q q it's not you it's fraud low fee that's all there is to it that's what they generate to generate their salary bonuses that's all or i
with whether the economy is bankrupt or not bankrupt assaut about having an accounting of the economy with inputs and outputs and a g.d.p. that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same...
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Jan 31, 2013
01/13
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the private economy did well up 3.4%. it was the government economy that fell. i would like to see us finishing the spending cuts of the government. shrink the government more. grow the private economy by 5%. that is my vision. now there is more bad news for new jersey senator bob menendez as the fbi raids the offices of one of his close financial backers. will it present key evidence in the alleged prostitution scandal surrounding the senator. it's all unconfirmed but the potential legal fallout is huge. >>> israel takes no chances. the air force launches two air strikes in syria preventing the assad regime from transporting chemicals and weapons of mass destruction to hezbollah. if the red line is crossed israel will attack again. we cover it all. "the kudlow report" begins now. first up we learned today the fourth quarter gdp fell slightly, much to everybody's surprise. so the white house is blaming republicans for the fiscal tax cliff and the spending sequester which i think is hilarious. they invented the sequester. we have had tax, spend and regulate polic
the private economy did well up 3.4%. it was the government economy that fell. i would like to see us finishing the spending cuts of the government. shrink the government more. grow the private economy by 5%. that is my vision. now there is more bad news for new jersey senator bob menendez as the fbi raids the offices of one of his close financial backers. will it present key evidence in the alleged prostitution scandal surrounding the senator. it's all unconfirmed but the potential legal...
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Jan 31, 2013
01/13
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economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economists expected. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy statement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household and business spending advanced. >> susie: darren gersh begins our coverage with that weak reading on the economy. >> reporter: last quarter, defense spending fell off the fiscal cliff. as lawmakers bickered, manufacturers who make things for the pentagon cut back production sharply-- defense spending fell 22% in the latest g.d.p. report, tipping the economy into the red. >> certainly manufacturers are pulling back and i think this is a bit of a wake up call that these cuts are real and that they have real effects on the ec
economy. on the jobs front, a strong payrolls report showed private employers added 192,000 jobs in january, much more than economists expected. but the commerce department said economic growth, contracted in the last three months of 2012. the g.d.p. shrank by 0.1% the first time that's happened since the financial crisis began. the fed said in its policy statement today that it continues to see "downside risks" to the economy. unemployment is still "elevated". but household...
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Feb 2, 2013
02/13
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MSNBC
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the economy grows more slowly. government is a significant part of the economy. and if we learned anything, which you suggest we haven't, if we were going to learn from this, what we would learn is in fact you cut the government spending at a time like this you're going to grow more slowly. now the sequester threatens $85 billion of cuts in 2013. and most estimates are that could take another half of a percentage point off of gdp. like i said, if we're growing at somewhere around 1.2% we can't afford that. why is the market -- the dow hit 14,000 today, doing very, very well. >> i think i can explain it. >> explain it, enlighten me. >> so far, we have been talking exclusively about the united states. although i did mention austerity and europe. but corporate profitability is doing well. well, if you're a multi-national corporation that can sell into developing economies in asia, for example, then your profitability doesn't depend on the united states getting it right. it doesn't depend on the congress rejecting austerity. what it does is go where there is growth.
the economy grows more slowly. government is a significant part of the economy. and if we learned anything, which you suggest we haven't, if we were going to learn from this, what we would learn is in fact you cut the government spending at a time like this you're going to grow more slowly. now the sequester threatens $85 billion of cuts in 2013. and most estimates are that could take another half of a percentage point off of gdp. like i said, if we're growing at somewhere around 1.2% we can't...
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Jan 31, 2013
01/13
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and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top destination for several years now. i think that's a reflection of the growth of not only governmental activity in washington, but it's defense contractors, and folks who are there to protect the interests of their company. >> reporter: oregon, nevada, north carolina, and south carolina are also popular places to move. on the other hand, states like new jersey, illinois, west virginia, new york, and new mexico had an exodus of workers. many of those departures are rooted in lack of jobs, high taxes, and expensive housing. economists are pleased to see a pick-up in moving, because it reflects greater job opportunities
and germany are strong economies-- the 5th and 7th largest economies in the world-- and they continue to be very significant trading partners, even though their growth rates are stagnant. >> reporter: people move for many reasons-- not just a new job. it could be marriage, or a desire for a warmer climate. but there's no denying migration patterns tell a lot about regional economic differences. so where are workers moving to in the u.s.? >> washington d.c. has been the top...
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by growing the economy. consumer confidence at this point, i don't buy the payroll tax as much as i say what's the next shoe going to drop? this idea of raising taxes and spending at the same time, people are starting to figure out it doesn't add up. >> jonas, there is a lot of debt out there. how can you take care of that mess without tax hikes and spending cuts? >> stackses are a lot lower than they were through jfk's administration for sure. look, i don't think anyone would argue gary's point that when you raise taxes, you cut spending and it hurts the economy. it's a drag on the economy. you are cutting into spending the people are doing, taking it and paying off our debt. however, a bigger drag on the economy, probably the only bigger drag is when a government basically goes broke because they can't pay their debt, like what happened in greece and ireland and other countries that didn't have the tax base to support the spending the politicians hand. the taxes are going to have to go up. the question is
by growing the economy. consumer confidence at this point, i don't buy the payroll tax as much as i say what's the next shoe going to drop? this idea of raising taxes and spending at the same time, people are starting to figure out it doesn't add up. >> jonas, there is a lot of debt out there. how can you take care of that mess without tax hikes and spending cuts? >> stackses are a lot lower than they were through jfk's administration for sure. look, i don't think anyone would argue...
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Feb 2, 2013
02/13
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the economy. how do you capitalize? start with understanding that today smart is the new rich. who better to have on than the smartest, richest man in the u.s., bill gates? you'll hear from him in a moment. >>> plus, media mogul arianna huffington on creating jobs. first, the soaring stock market. does that mean the economic recovery is real or is something else going on here? >>> looming budget cuts. >> we can't keep spending money we simply do not have. >> tax uncertainty. >> the deficit is still too high. >> gridlock over how to fix it. if it weren't for politicians in washington, 2013 could be a boom year. take a step back. your home, your investments, your job. the three ways most people build wealth are all set to take off. home prices rose 5.5% in november, biggest jump in six years, stocks are at five-year highs, near records. the dow is up 800 points in just four weeks. jobs are coming back. things are looking bright in 2013, but to capitalize, you'll have to get ready. and get smart. bec
the economy. how do you capitalize? start with understanding that today smart is the new rich. who better to have on than the smartest, richest man in the u.s., bill gates? you'll hear from him in a moment. >>> plus, media mogul arianna huffington on creating jobs. first, the soaring stock market. does that mean the economic recovery is real or is something else going on here? >>> looming budget cuts. >> we can't keep spending money we simply do not have. >> tax...
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Jan 31, 2013
01/13
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>> the economy is shrinking and the economy is playing the blame game. charles: welcome, everyone, i am charles payne in for neil cavuto. the administration is saying that it was hurricane sandy and defense spending cuts and uncertainty about marcotte. one more quarter and we are in a double dip recession with us tonight is xander -- sandra smith. >> that's right, they are trying to use this report. uncertainty when it comes to tax dollars in borrowing more money. charles: the mass media, i saw a report in new york. six reasons this wasn't a bad record. did you see that? >> the media was trying to spin this in every way that they could. they were trying to make it look like a god for them. what we need to do is say that as a lack of economic growth policy. where is the job growth policies? right now we have consumer confidence levels that we just got this week. they are plummeting because people are seeing their paychecks shrink as a result of the expirations of payroll tax cuts. people have less money to spend, they are less optimistic about the future.
>> the economy is shrinking and the economy is playing the blame game. charles: welcome, everyone, i am charles payne in for neil cavuto. the administration is saying that it was hurricane sandy and defense spending cuts and uncertainty about marcotte. one more quarter and we are in a double dip recession with us tonight is xander -- sandra smith. >> that's right, they are trying to use this report. uncertainty when it comes to tax dollars in borrowing more money. charles: the mass...
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the economy? it's shrinking. gdp contracting last year for the first time in four years and consumer confidence tanking as that payroll tax hike cuts into workers' paychecks. add it all up, is it time to strike calls for more tax hikes? down. i'm brenda buttner, this is "bulls & bears." we've got gary smith, tobin smith, jonas max ferris, and john layfield and susan fox. the white house and democratic leaders still pushing tax hikes. should they be? >> absolutely not, brenda. what i don't understand is how you can propose tax hikes without looking at what the scholars say, the studies say. look, if there was studies out there says raising taxes, great for the economy, i'd get behind it. but you know what, brenda? every single scholarly study for the past 15 years has said one thing: higher taxes, negatively impact growth. it's funny, forget all that, though. if you just look anecdotally, when the left wants to inhibit behavior, whether it's energy consumption or cigarette smoking or any one of the other things th
the economy? it's shrinking. gdp contracting last year for the first time in four years and consumer confidence tanking as that payroll tax hike cuts into workers' paychecks. add it all up, is it time to strike calls for more tax hikes? down. i'm brenda buttner, this is "bulls & bears." we've got gary smith, tobin smith, jonas max ferris, and john layfield and susan fox. the white house and democratic leaders still pushing tax hikes. should they be? >> absolutely not,...
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Jan 29, 2013
01/13
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the point is, we have a down economy, that flat economy. we're not pulling anything away from the private sector. i was making the point about barnes and noble, and the point is that business -- i've never seen a business that says i'm going to go out and invest because the government's cutting spending on education. >> i think it gives confidence. i don't think -- dean baker is a terribly smart guy, but doesn't understand how business people think. business people want lower spending and lower deficits and loafer taxes. isn't that true? phil, the confidence factor alone, we're not greece. that's going to help us. >> yeah, look, we've still got a tremendous amount of capital on the sidelines. we've essentially got a capital strike, business profits have been very high, but they're not being reinvested. and that's because of all of the uncertainty about this enormous federal government that we've got and whether we're going to get it under control or it's going to continue to have an ever increasing footprint that's going to crowd out the pr
the point is, we have a down economy, that flat economy. we're not pulling anything away from the private sector. i was making the point about barnes and noble, and the point is that business -- i've never seen a business that says i'm going to go out and invest because the government's cutting spending on education. >> i think it gives confidence. i don't think -- dean baker is a terribly smart guy, but doesn't understand how business people think. business people want lower spending and...
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Jan 30, 2013
01/13
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they had a totally unbalanced economy. what is happening under this government is a million private sector jobs, unemployment down since the election, the fastest way to business reaction in our recent history, a balance of payment service in cars. we are clearing up the mess they made. they are doomed to repeat the mistakes of the past because they haven't learned the lessons and that's what the british public will never trust them with the economy i can. [shouting] >> thank you, mr. speaker. like the prime minister, i want to see a fresh a settlement for euro. german beer drinkers made 13 times more duty than british drinkers. and spanish drinkers -- british drinkers paid 9.2% in spanish tankers and 10,000 more duty than spanish drinkers. will he take the chancellor for a pint? and do something for british pubs and british republicans speak with my honorable friend quite rightly speaks up for -- i remember visiting the great bravery with him during the last election. i'm sure the chancellor would have listened very caref
they had a totally unbalanced economy. what is happening under this government is a million private sector jobs, unemployment down since the election, the fastest way to business reaction in our recent history, a balance of payment service in cars. we are clearing up the mess they made. they are doomed to repeat the mistakes of the past because they haven't learned the lessons and that's what the british public will never trust them with the economy i can. [shouting] >> thank you, mr....
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Jan 31, 2013
01/13
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economy. it is going down again. even as president obama's poll numbers are going up are we the people completely clueless? we have a special report. you al gore are doing business with this country that's enabling your ultimate foe climate change. >> i think i understand what you are getting at. [ laughter ] >> bill: even david letterman is pounding al goren othe hypocrisy of making money from big oil. we will show you how gore is being treated by the left-wing media. >> isn't there a contradiction in that? also tonight dennis miller on the most popular tv personalities in america and my interview with collin powell last night. caution, you are about to enter the no spin zone. the factor begins right now. >> bill: hi, i'm bill o'reilly. thanks for watching us tonight. bad economic news but it doesn't seem to matter to the folks. that is the sung of this evening's talking points memo. last quarter, the economy fell back. in fact, it was the worst economic performance since the second quarter of 2009 when the recessio
economy. it is going down again. even as president obama's poll numbers are going up are we the people completely clueless? we have a special report. you al gore are doing business with this country that's enabling your ultimate foe climate change. >> i think i understand what you are getting at. [ laughter ] >> bill: even david letterman is pounding al goren othe hypocrisy of making money from big oil. we will show you how gore is being treated by the left-wing media. >>...
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Feb 1, 2013
02/13
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yes, the economy is growing. yes, with each passing month we're on more sound ground but, you know, i don't think anyone's going to feel really good until unemployment is below 6%. >> and the big issue continues, one of the odd issues has to be consumer confidence. and we're finding in our own polling that there may be a tie to washington gridlock in consumer confidence. because if you look at all of the other private data, housing starts are up, everything looks like it should be in better shape, but consumer confidence from december to january went down. and the intervening event was what? the fiscal cliff. we found in our own polling people feel less confident about the economy when there's no deal in washington. is that what you guys see? >> yeah. i would say it's more dollars and cents than that, though. chuck, you know, the payroll tax holiday went away in january. everyone got their first paycheck in 2013 and said, it's a lot smaller, what's the heck's going on. and that's reflected in the confidence numbe
yes, the economy is growing. yes, with each passing month we're on more sound ground but, you know, i don't think anyone's going to feel really good until unemployment is below 6%. >> and the big issue continues, one of the odd issues has to be consumer confidence. and we're finding in our own polling that there may be a tie to washington gridlock in consumer confidence. because if you look at all of the other private data, housing starts are up, everything looks like it should be in...
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Feb 3, 2013
02/13
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he needs to continue talking about the economy. if you look at the numbers for this week, it's very disturbing just in anticipation of the defense cuts in the sequester we saw a shrinkage in defense spending. it's going to have a considerable dent to consumer demand if this sequester goes through. that is going to be tough for the president to deal with. at the same time because of what michael says the public is with him on these issues, there's a magic moment for immigration reform right now and maybe gun control. those are issues you have to push very hard on and can't lose focus on. those senate democrats up for re-election in red states who he's asking for help on those two issues are going to say come april if these numbers continue to deteriorate you have to know what you're doing on jobs. you have to talk to americans about the economy. >> before we take a break here, tell me quickly, what is there to be done about the economy that involves congress at this point? >> i think a lot has to be done by the executive branch. i m
he needs to continue talking about the economy. if you look at the numbers for this week, it's very disturbing just in anticipation of the defense cuts in the sequester we saw a shrinkage in defense spending. it's going to have a considerable dent to consumer demand if this sequester goes through. that is going to be tough for the president to deal with. at the same time because of what michael says the public is with him on these issues, there's a magic moment for immigration reform right now...
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Feb 5, 2013
02/13
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how did it help the economy? a lot, because he got the government out of the way of the economy. >> we trace the life of the 30th president of the united states in "coolidge," sunday night at 8:00. >> during the presidency of her husband james madison, british troops invaded the capital in 1812, she saved a portrait of george washington. meet dolly madison, one of the women who served as first lady. "first ladies, influence and image, their public and private lives and their influence on the president". season one begins presidents' day on february 18. >> the house progressive caucus today unveiled a plan to cancel the automatic spending cuts scheduled to take effect march 1 and replaced those in $900 billion in new tax revenue. congressman keith ellison and representative grijalva are co-chairman of the progressive caucus. >> my name is keith ellison i'm co-chair along with representative gri halla. and members of the group are looking at this fiscal situation that our country is facing and we have a vision of h
how did it help the economy? a lot, because he got the government out of the way of the economy. >> we trace the life of the 30th president of the united states in "coolidge," sunday night at 8:00. >> during the presidency of her husband james madison, british troops invaded the capital in 1812, she saved a portrait of george washington. meet dolly madison, one of the women who served as first lady. "first ladies, influence and image, their public and private lives...
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Feb 4, 2013
02/13
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now, he asked about other european economies. the fact is it you listen to the european union, the oecd, or the i.m.f., they all point out that britain will have the fastest growth of any major economy in europe this year. but i have to ask him, what is his plan? we all know it. it's a three-point plan, more spending, more borrowing, more debt. exactly the things that got us into the mess in the first place. >> i have to say that we have got used to that kind of answer from the prime minister. he promises a better tomorrow and tomorrow never comes. that is the reality. and he couldn't deny the fact that we're 18th out of 20 countries. we've done worse than the u.s.a., worse than canada, worse than germany, worse than france because of his decisions. now, last week, the chief economist of the i.m.f. said this. he said, if things look bad at the beginning of 2013, which they do -- and he was talking about the u.k. then there should be a reassessment of fiscal policy. so, mr. speaker, after two years of no growth, can the prime mini
now, he asked about other european economies. the fact is it you listen to the european union, the oecd, or the i.m.f., they all point out that britain will have the fastest growth of any major economy in europe this year. but i have to ask him, what is his plan? we all know it. it's a three-point plan, more spending, more borrowing, more debt. exactly the things that got us into the mess in the first place. >> i have to say that we have got used to that kind of answer from the prime...
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that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global g.d.p. is sixty trillion there's ten times more debt just a notable basis if you add in the flow derivatives there's twenty times more debt than there is actual g.d.p. there is no economy there there's no collateral there is just flow it's just flow it's frozen flow got through in the fraud it's from float to bluff after the f a q it's f q it's f u q it's fraud low fi that's all there is to it that's what they generate to generate their salary bonuses that's all or is well this finance minister after saying that they're a credible country they're a solvent country they're a recovering country it's al
that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global...
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Jan 30, 2013
01/13
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FBC
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how are we going to get this economy back on track? well, the federal reserve has to do what it has to do. a big problem is a drag on the economy, the shenanigans that we see in the political process. the unwillingness to deal with our long-term fiscal issues is really a very important driver of uncertainty that is holding back households and business spending. my view is part of the process. gerri: if you can figure that out, that will be a major award that you deserve. [laughter] >> we were heading in the right direction. it's been extremely disappointing. gerri: i want to talk to buy more important number that we got today, that was the gdp. this is economic growth in the quarter coming down. one 10th of a percent. "the wall street journal" reporting this afternoon that we haven't had economic expansion. a single quarter down, negative gdp growth, without a subsequent one since 1977. so this does not bode well for the economy. >> no, it certainly is a problem. but you have to look through this. the gdp fluctuates a lot in this conte
how are we going to get this economy back on track? well, the federal reserve has to do what it has to do. a big problem is a drag on the economy, the shenanigans that we see in the political process. the unwillingness to deal with our long-term fiscal issues is really a very important driver of uncertainty that is holding back households and business spending. my view is part of the process. gerri: if you can figure that out, that will be a major award that you deserve. [laughter] >> we...
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it's essential to get the financial economy working for the real economy . this is worth well you must think there's an awful lot of marxists around and i certainly don't count myself a marxist i think everybody recognizes across the political spectrum from quite liberal observers to more social democratic observers that the financial economy has been at the roots of this crisis everybody knows that and i think everybody recognizes too that in order to get the real economy and that's remember the real economy is where people work where value is added and where human needs are responded to to get that back on the road the financial sector has to play its normal role it's perfectly normal of providing finance providing credit and one of the problems we have today is that in addition to try to repair the damage that's been done to the financial sector the financial. sector is still not providing credit to viable enterprises as i go around the world i hear this problem repeated again and again and again how can we get those banks which have money or indeed those
it's essential to get the financial economy working for the real economy . this is worth well you must think there's an awful lot of marxists around and i certainly don't count myself a marxist i think everybody recognizes across the political spectrum from quite liberal observers to more social democratic observers that the financial economy has been at the roots of this crisis everybody knows that and i think everybody recognizes too that in order to get the real economy and that's remember...
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that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global g.d.p. is sixty trillion there's ten times more debt just to no little basis if you add in the flow derivatives there's twenty times more debt than there is actual g.d.p. there is no economy there there's no collateral there is just flow it's just flow it's frozen flow got during the fraud it's from float to bluff after the f. to the q it's f q it's f u q. it's fraud low fi that's all there is to it that's what they generate to generate their salary bonuses that's all or is well this finance minister after saying that they're a credible country they're a solvent country they're a recovering country i
that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe their economy in the world because there are six hundred trillion in derivatives the total total global...
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Jan 31, 2013
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economy shrunk. >> the new report suggests that this economy still has not really fully recovered from the financial crisis four years ago. >> it was the democrats are saying? this is the best-looking contraction that there has ever been. >> it's disheartening, although we have moved at least temporarily beyond flirtation with default, to see republican leaders say, visequester in my back pocket. it's not a game. it's the american economy. >> you remember what this administration's growth forecasts were? for the next three to four years? their growth forecasts were anywhere between 3 and 4/2 percent. we are not growing. >> have you heard of a poor man spending himself into prosperity? >> it's just sad to see this happening right in front of our ice. >> there is more work to do. and our economy is facing a major headwind and that's republicans in congress. >> if there were republicans in the white house, we have been in a recession. if there were a republican in the white house, it would be's depression. if there were a republican in the white house, it would be doing impeachment hearin
economy shrunk. >> the new report suggests that this economy still has not really fully recovered from the financial crisis four years ago. >> it was the democrats are saying? this is the best-looking contraction that there has ever been. >> it's disheartening, although we have moved at least temporarily beyond flirtation with default, to see republican leaders say, visequester in my back pocket. it's not a game. it's the american economy. >> you remember what this...
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Jan 30, 2013
01/13
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the economy suddenly stops growing. anthony mason looks at the surprising new numbers and with the super bowl coming this weekend, jim axelrod in new orleans, where the city's chefs have served up an economic recovery. >> reporter: the population shrunk, and yet the number of the restaurants went up? >> yeah, it's a miracle, isn't it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the senate judiciary committee had assembled for the first congressional gun control hearing since the sandy hook tragedy when the surprise witness appeared. former congresswoman gabrielle giffords of arizona was led by the hand by her husband, mark kelly. it was two years ago this month that giffords was shot through the head during a meeting in tucson. 18 others were shot and six died. a day of testimony began with this: >> speaking is difficult, but i need to say something important. violence is a big problem. too many children are dying. too many children. we must do something. it wil
the economy suddenly stops growing. anthony mason looks at the surprising new numbers and with the super bowl coming this weekend, jim axelrod in new orleans, where the city's chefs have served up an economic recovery. >> reporter: the population shrunk, and yet the number of the restaurants went up? >> yeah, it's a miracle, isn't it? captioning sponsored by cbs this is the "cbs evening news" with scott pelley. >> pelley: good evening. the senate judiciary committee...
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Jan 31, 2013
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that's how much money was pumped into this economy in five years. where did it go? did it do any good? i'll break it down, next. ♪ not their short-term agenda. [ male announcer ]oin the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps block stomach acid from splashing up- relieving the pain quickly. try fast, long lasting gaviscon®. ♪ >> you know, sometimes it's the numbers that tell the story, and, tonight, there is one number, just one number that tells you everything you need to know about what's wrong with washington's play book. that number? 7.66 trillion, as in dollars, as in taxpayer dollars. now, that's a total of all the stimulus dollars the federal government has used to set this nation's economy back on the right path. 7.66 trillion. that's a lot of money. you know what? it's 49% of our nation's g
that's how much money was pumped into this economy in five years. where did it go? did it do any good? i'll break it down, next. ♪ not their short-term agenda. [ male announcer ]oin the nearly 7 million investors who think like you do. face time and think time make a difference. at edward jones, it's how we make sense of investing. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® forms a protective barrier that helps...
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Jan 30, 2013
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they provide us with a thriving economy. that is all i'm saying. >> the reality, today we have 11 million workers in this country who are contributing to society and fabric of this country that we need to figure out what to do with them. obviously, it's not to deported everybody. >> eric: good to have you. thank you so much. >> superbowl means super bets but is a the government cracks down stossel fights for your right to pony up ♪ you know when to hold them ♪ ♪ know when to walk away ♪ know when to run .. >>>. >> eric: it's ban we said the exception of four stays. they have outlawed sports gambling even to your office pool. we'll bring in john stossel says that is crazy. >> it is crazy. it's nice they don't enforce it but that let's abuse people. they raid some poker games. guys wear masks and guns drawn. >> eric: so i can't have a poker game. i can't put ten bucks buks on an office pool because that is illegal but i can walk down a street and pick up a lottery ticket? >> that is so disgusting. state says, there is
they provide us with a thriving economy. that is all i'm saying. >> the reality, today we have 11 million workers in this country who are contributing to society and fabric of this country that we need to figure out what to do with them. obviously, it's not to deported everybody. >> eric: good to have you. thank you so much. >> superbowl means super bets but is a the government cracks down stossel fights for your right to pony up ♪ you know when to hold them ♪ ♪ know...
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this guy campaigned on jobs and the economy, he gave an inaugural speech on what? immigration, constructing royds and more liberal rhetoric, you know what, this is a step to socialist ladder forget rid of small business then we can control the big guys, i am frustrated and angry. tom: i hear it. marco, you have seep the president, i get up in the morning i think about jobs, i go on bet at night i think about jobs, do you think he has forgotten? >> i don't think he nearly forgotten about it, i think he doesn't know how to create jobs. it is the smalln 'n small busins that create them, if you have not run a business how in the world do you know how to create jobs this is why the count was important and should have been important. >> thank you very much. push to help illegals is on, but nobody is talking about how the cost will add up, we hear taxpayers could have to pony up trillions of bucks, then, too big to cheer? super bowl scandal that got a cheerleader jeering instead of cheering. tom: senate democrats pumping up the bipartisan immigration plan. >> it gives me
this guy campaigned on jobs and the economy, he gave an inaugural speech on what? immigration, constructing royds and more liberal rhetoric, you know what, this is a step to socialist ladder forget rid of small business then we can control the big guys, i am frustrated and angry. tom: i hear it. marco, you have seep the president, i get up in the morning i think about jobs, i go on bet at night i think about jobs, do you think he has forgotten? >> i don't think he nearly forgotten about...
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Feb 2, 2013
02/13
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what's up with the economy? in washington, bipartisanship roars back. >> for the first time ever, there's more political risk in opposing immigration reform than in supporting it. >> the issue of immigration is not a simple one but i think we have the opportunity to do it right and -- gwen: will immigration reform finally happen? and chuck hague 's rocky confirmation hearing. >> please answer the question. were you correct or incorrect when you said that the surge would be the most dangerous foreign policy blunder since vietnam? yes or no? >> my reference to -- >> are you going to answer the question senator hagel? the question ask were you right or wrong? gwen: the president's pentagon choice finds hit -- his worst enemies in his own party. covering the week, david wessel of "the wall street journal." vaughn johnson of national joran. kirn tumulty of the national post and doyle mcmanus of the national times. >> award-winning reporting and nanls -- analysis, covering history as it happens. live in our nation's c
what's up with the economy? in washington, bipartisanship roars back. >> for the first time ever, there's more political risk in opposing immigration reform than in supporting it. >> the issue of immigration is not a simple one but i think we have the opportunity to do it right and -- gwen: will immigration reform finally happen? and chuck hague 's rocky confirmation hearing. >> please answer the question. were you correct or incorrect when you said that the surge would be the...
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Jan 31, 2013
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more on the economy in moments. the gun-control debate on center stage in the nation's capital today, hearing marked by a heated debate about the effectiveness and background checks and questions of why current gun-control laws simply are not enforced. the nra's wayne lapierre insisting new laws will not curtail violence, now while the government already refuses to enforce existing laws. but the fact is we could dramatically and -- cut crime with guns and save lives all over this country if we would start enforcing the 9,000 federal laws we have on the books. i'm talking about drug dealers, gangs, felons. there is simply not being enforced. the numbers are shocking. lori: meanwhile, in the murder capital of the united states, the city with some of the strictest gun laws in the nation among the mayor is again practicing chicago are mending intimidation politics. asking several mutual funds to blacklist and manufacturers who do not go along with a left-wing attack on the second amendment. his statement reading, just l
more on the economy in moments. the gun-control debate on center stage in the nation's capital today, hearing marked by a heated debate about the effectiveness and background checks and questions of why current gun-control laws simply are not enforced. the nra's wayne lapierre insisting new laws will not curtail violence, now while the government already refuses to enforce existing laws. but the fact is we could dramatically and -- cut crime with guns and save lives all over this country if we...
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that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe or economy in the world because there are six hundred trillion in derivatives the total total global g.d.p. is sixty trillion there's ten times more debt just a notable basis if you add in the flow derivatives there's twenty times more debt than there is actual g.d.p. there is no economy there there's no collateral there is just flow it's just flow it's frozen flow got to ring the fraud it's fraud flows to bluff after the f a q f q q q. it's fraud low fi that's all there is to it that's what they generate to generate their salary bonuses that's all or is well this finance minister after saying that they're a credible country they're a solvent country they're a recovering country it's all fine he then w
that's were tied to manufacturing or labor it's an economy based on transactional ism it's an economy based on financial fraud as long as the fraud keeps going then you know the economy will exist in this existential. nightmare called global financial ization a little but to suddenly say that the economy is broke as if that means anything so is the same thing for every economy in europe or economy in the world because there are six hundred trillion in derivatives the total total global g.d.p....
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the bush economy was not a good economy. bill clinton raised rates on the rich. we had the best economy we have had since the 1960's. host: choices made internally, the impact. guest: well short, it was a smaller plan. they got cold feet. they turned too conventional. they cannot pass much of anything except the payroll tax cuts. it just went away. host: how long before know what succeeded or failed? guest: people are still arguing about the 1930's. too soon to tell. i think we have a tremendous amount of evidence. we have been running experiments across the world. get austerity politics in britain and spain. we know that they do not worke. we have a good idea that it is hard to make it work at these levels. fears of inflation or grossly exaggerated. host: stock about what paul krugman has done. he is a columnist for "the new york times." he's the author or editor of 20 books. he is a nobel prize winner in economics. its most recent book is "end this depression now!." hi, janet. caller: i was wondering -- the financial crisis -- had we done more stimulus would it
the bush economy was not a good economy. bill clinton raised rates on the rich. we had the best economy we have had since the 1960's. host: choices made internally, the impact. guest: well short, it was a smaller plan. they got cold feet. they turned too conventional. they cannot pass much of anything except the payroll tax cuts. it just went away. host: how long before know what succeeded or failed? guest: people are still arguing about the 1930's. too soon to tell. i think we have a...
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Feb 6, 2013
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now the economy is still hurting. it is growing slowly but it is clearly a heck of a lot healthier than it was four years ago. and yet none of the discussion is about the short-term macro picture. it's entirely about the medium-term fiscal picture. and, unfortunately, i don't see us making any significant progress on that. frankly, anytime in the next two years but i think they are out of scale and i think it's sort of going to be ugly arguments that little progress will be coming. >> let me jump in for a second. you said you wanted us to debate. [laughter] i don't think the focus is all change to the medium-term deficit in fact the reason i think it's sort front and center is precisely because it has to be part of the discussion on jobs i do think the president cares deeply about the fact that we still have an unemployment rate just slightly below 80%, that is an unbelievable tragedy. i think realistically if you're going to do more infrastructure spending or you're going to make the kind of investments we need to ma
now the economy is still hurting. it is growing slowly but it is clearly a heck of a lot healthier than it was four years ago. and yet none of the discussion is about the short-term macro picture. it's entirely about the medium-term fiscal picture. and, unfortunately, i don't see us making any significant progress on that. frankly, anytime in the next two years but i think they are out of scale and i think it's sort of going to be ugly arguments that little progress will be coming. >> let...
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the crisis there is more acute than ever as the economy continues to decline. gdp has fallen for the sixth quarter in a row. most recently, by 0.7%. the outlook is bleak. the prime minister is trying to buck the trend. he told parliament he was planning a new stimulus package. he hopes in particular to ease the tax burden on export-driven businesses. >> we are going to implement structural reforms with even greater force and adopt new measures to stimulate growth. our priority is to reduce youth unemployment, and we are already cooperating with unions and businesses to achieve this. >> there's mounting frustration on the streets. unemployment in the country has risen to 26%. half of young people are out of work. but the eu has signaled it is willing to relax rules on spain, which could help soften the austerity measures apparently crippling the country. >> germany may be about to drop its objections to bailing out cyprus. despite misgivings about reports of money laundering by the island's thanks. >> a number of politicians in germany have accused separate bank
the crisis there is more acute than ever as the economy continues to decline. gdp has fallen for the sixth quarter in a row. most recently, by 0.7%. the outlook is bleak. the prime minister is trying to buck the trend. he told parliament he was planning a new stimulus package. he hopes in particular to ease the tax burden on export-driven businesses. >> we are going to implement structural reforms with even greater force and adopt new measures to stimulate growth. our priority is to...
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start a businesses create jobs and spur the economy. we will hear from jerry moran who authored the start impact, legislation aimed at helping businesses grow the economy. this discussion as part of a policy summit held by the consumer electronics association in las vegas. it is an hour. >> so, good afternoon. my name is larry downes. it means for an hour i can be up here and not back in the audience taking notes. just before the election, i wrote an article asking what it was that of intrapreneurs needed from washington. our panelists today may have a more productive agenda to discuss. i know there are many in the audience who are from washington. that is great because you will be hearing from some actual business owners and organizers -- organizations interested to talk about when the start up a economy does and does not need from washington. it is my great pleasure to introduce senator jerry moran will provide some introductory mar remarks -- remarks. both in the senate and then before 2010, and during seven terms in the house. he su
start a businesses create jobs and spur the economy. we will hear from jerry moran who authored the start impact, legislation aimed at helping businesses grow the economy. this discussion as part of a policy summit held by the consumer electronics association in las vegas. it is an hour. >> so, good afternoon. my name is larry downes. it means for an hour i can be up here and not back in the audience taking notes. just before the election, i wrote an article asking what it was that of...
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Feb 6, 2013
02/13
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the less they spend, the less involved they are in the economy and the private economy can flourish more. it's so simple. the equation is so basic. i don't get it. >> i'm not going to name names. this guy is very good at what he does. he just didn't get what you just said and he's a great stock picker. extremely wealthy. >> he probably has a lot of stocks where they have practiced represent seeking from the government, they maybe get wing subsidies or maybe he's buying solar companies that will survive that desperately maybe he's got certain defense stock that's desperately wants to make sure that they'll keep bringing in the revenues. he probably has vested interests. >> i just want to say, one of your favorite presidents, bill clinton, when he came into office, spending as a share of gdp was about 21%, 21.5%. when he left office working with a republican congress, it was % 18%. p we had a terrific boom with lower spending. does anybody remember that? >> i find it amazing to look back at clinton. >> he was a conservative compared to president obama. >> even bush and the way he spent, ju
the less they spend, the less involved they are in the economy and the private economy can flourish more. it's so simple. the equation is so basic. i don't get it. >> i'm not going to name names. this guy is very good at what he does. he just didn't get what you just said and he's a great stock picker. extremely wealthy. >> he probably has a lot of stocks where they have practiced represent seeking from the government, they maybe get wing subsidies or maybe he's buying solar...
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Jan 30, 2013
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economy slinking? what does it mean for you? we will get answers from the fox all-stars when we return. hungry for the best? it's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. >>> we have seen consistent job growth over three years. home prices are starting to climb back. consumer confidence overall is rising. consumer spending is rising. there is more work to do. our economy is facing a major head wind which goes to your point. that is republicans in congress. >> this is not good news for the american people. it says a lot about their failure here in congress to do what i think most of us understand. that we need to do. that is get our fiscal house in order. >> bret: there you see the bar graph. the nation's gross domestic product. gdp. from 3.1%
economy slinking? what does it mean for you? we will get answers from the fox all-stars when we return. hungry for the best? it's eb. want to give your family the very best in taste, freshness, and nutrition? it's eb. want to give them more vitamins, omega 3s, and less saturated fat? it's eb. eggland's best eggs. eb's. the only eggs that make better taste and better nutrition... easy. eggland's best eggs. better taste. better nutrition. better eggs. it's eb. >>> we have seen consistent...
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Jan 31, 2013
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given the fact that the fuel economy standards really are not fuel economy standards but asked our co2 reduction standards, building upon what you said previously about trying to get more fuels into the market would seem to be a way to actually achieve the gas standards so if you're going forward in a mid course correction, 40 miles per gallon with total renewable meets the goal anyway. so i'd like to get you comments on that. and also given the fact that a new turbocharged engine really need higher combustion and high octane, do you have any thoughts as to the whole panel, on having the new suit fuel through tier three that would have the higher octane? >> your points are excellent ones. i think i try to address that. so to be clear, we support the pursuit of the tropics can be properly processed, not just arbitrary just produce dropping but we have to do that open minded laid to reduce carbon's. and possibly throughout the lifecycle the creation and distribution. if we do it that way, that would address a part of the equation that has not yet taken care of through policy or regulatio
given the fact that the fuel economy standards really are not fuel economy standards but asked our co2 reduction standards, building upon what you said previously about trying to get more fuels into the market would seem to be a way to actually achieve the gas standards so if you're going forward in a mid course correction, 40 miles per gallon with total renewable meets the goal anyway. so i'd like to get you comments on that. and also given the fact that a new turbocharged engine really need...
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Feb 3, 2013
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we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope it is going to be several quarters of low growth. anything can happen in an economy this fragile that can turn it into a recession i don't that would be a double dip recession. >> that's right. it would be. >> is that your prediction? >> no i don't know. >> i know you don't know. where do you think the odds are? >> i think the economy is going to stay very weak and any single event the collapse of the spanish banking system or what have you, any single event will create such a lack of confidence in the economy you'll have a big cut back. >> in what the federal review is saying in view of 2011, should i review that history with you? >> by all means. >> recently released fed minutes show how wrong the fed was in 2011 about the depth of the crisis. they
we can barely get the economy to grow. it was 2.4% last year, then 1.8%, if that, maybe even less this year. despite all the stimulus. so the economy is continuing slow, it is not even staying flat. >> so you are saying we are in for several quarters of low growth? >> we hope it is going to be several quarters of low growth. anything can happen in an economy this fragile that can turn it into a recession i don't that would be a double dip recession. >> that's right. it would...
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economy takes a sharp turn downward in the fourth quarter of two thousand and twelve but wasn't the previous quarter a wildly successful one r.t. takes a look at the accusations the bureau of labor statistics manipulated economic data to benefit president obama's reelection campaign. the question is were you right or wrong that you're pretty straightforward question world however i would like to answer with you right or wrong and then you are free to elaborate just a small piece of a very heated hearing chuck hagel is going on the defense on capitol hill today as one congress member outs or another take shots at his readiness to lead the defense department a look at his this world war of words coming up. it's thursday january thirty first time this mall here in washington d.c. and you're watching r t we begin today taking a look at whistleblowers in america former cia agent john kiriakou was sentenced to thirty months in prison just a few days ago he struck a plea deal and admitted to revealing the identity of a covert officer to a reporter he was originally charged with violating the ass be
economy takes a sharp turn downward in the fourth quarter of two thousand and twelve but wasn't the previous quarter a wildly successful one r.t. takes a look at the accusations the bureau of labor statistics manipulated economic data to benefit president obama's reelection campaign. the question is were you right or wrong that you're pretty straightforward question world however i would like to answer with you right or wrong and then you are free to elaborate just a small piece of a very...
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Feb 1, 2013
02/13
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the markets predict the economy. the economy does not predict the markets, a little ahead of itself as michael said. michael in hebrew says liken to god and you are liken to god with your predictions. however, the markets basically are saying 54% bulls and only 24% bears. maria, you could see a pullback, but i would say right now buy on any pullback. >> it does seem like this mentality of buy on the dip, exactly what david says is going to basically at the end of the day carry through. you don't think so? >> look at junk debt the last three, four trading days. they have blown out. emerging market sovereign debt, emb, fallen off a cliff. a real hiccup is starting in the credit markets. that could filter through with a lag to the stock market, just as nobody -- just as everyone is getting hyper bullish. what i'm suggesting sin personally in the market there's not enough confirmation, and this could be the start of a turn. >> how is that possible though? david mentions the transports. dow theory. >> oil. >> that's a hug
the markets predict the economy. the economy does not predict the markets, a little ahead of itself as michael said. michael in hebrew says liken to god and you are liken to god with your predictions. however, the markets basically are saying 54% bulls and only 24% bears. maria, you could see a pullback, but i would say right now buy on any pullback. >> it does seem like this mentality of buy on the dip, exactly what david says is going to basically at the end of the day carry through....
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what is it going to look like and what is it going to do to the economy? >> i think they're going to be, we are in a period of retrenchment at the state and local and federal level. the government is shrinking. had revenues are low. every pressure is going in that way. i think it probably will not end up looking like this just automatic across the board cuts. but you're likely to have at the least very hard freezes on all forms of spending and nominal doct dollars. so nobody can spend more than they spent in the last year, even if there weren't inflation. >> greg? >> i would add ironically the budget deficit is falling. certainly as a percentage of gdp and we'll get on tuesday, i think, from the congressional budget office new budget figures that show, in fact, that the deficit is dropping and dropping pretty significantly. >> guys, one last question to each of you. you have been watching the markets for so long. we have near records for stocks. gdp that shrank, jobs growth that is okay. why is the market so excited about what's happening either corporate
what is it going to look like and what is it going to do to the economy? >> i think they're going to be, we are in a period of retrenchment at the state and local and federal level. the government is shrinking. had revenues are low. every pressure is going in that way. i think it probably will not end up looking like this just automatic across the board cuts. but you're likely to have at the least very hard freezes on all forms of spending and nominal doct dollars. so nobody can spend...
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thank you for joining me russia's economy is set to become the largest in the world by twenty thirty at least fast according to the ministry of economic development but this protection relies heavily on if the price of oil goes up and i spoke to ivan chicken all from capital on the details of the report and he talks to the figures and he says the price of oil is critical. the minister of economy is proposing are so critical dependent on the price of oil they're talking in their forecasts about oil prices continuing to gain in value to about two hundred seventy hundred seventy five dollars over the next fifteen years or fifteen or twenty years so if that forecast were to materialize i think once again i would be comfortable with growth rates in russia somewhere around four four and a half percent but certainly not the five and have six percent of the government to start in about in its most optimistic scenario best case scenario tell me at this point in time what is the basic biggest risk to the russian economy a slump in china all the year is insolvent but i think this is the cutest
thank you for joining me russia's economy is set to become the largest in the world by twenty thirty at least fast according to the ministry of economic development but this protection relies heavily on if the price of oil goes up and i spoke to ivan chicken all from capital on the details of the report and he talks to the figures and he says the price of oil is critical. the minister of economy is proposing are so critical dependent on the price of oil they're talking in their forecasts about...
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>> i think our economy has been resilient. investment was strong in the fourth quarter particularly in equipment and software. we're seeing signs that the private sector is healing. it's very important that the government doesn't get in the way, that we don't have any self-inflicted wounds such as allowing the sequester to indiscriminately cut very important programs >> darren: but the government is raising taxes cutting spending, the payroll tax cut went away. is that the right policy mix to create jobs? >> the president has consistently supported measures to strengthen the economy, to invest more in infrastructure in the short run, to help states and local governments keep teachers and first respond ortz job, the types of-- if you go back and look at what the american proposed in the american jobs act what passed and what didn't pass. what passed has certainly homicide the economy. the 2% payroll tax cut which was intend to be temporary, helped support after-tax income and consumption. in the g.d.p. report we saw 14 quarters
>> i think our economy has been resilient. investment was strong in the fourth quarter particularly in equipment and software. we're seeing signs that the private sector is healing. it's very important that the government doesn't get in the way, that we don't have any self-inflicted wounds such as allowing the sequester to indiscriminately cut very important programs >> darren: but the government is raising taxes cutting spending, the payroll tax cut went away. is that the right...
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Feb 1, 2013
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it's the economy. the economy seems to be doing better. i just wrote down seven things that were on the plus side. a bunch of them this morning. manufacturing, jobs, construction, autos. we got better numbers out of china. financial panic overall seems to be -- have abated a bit. and of course as carl mentioned the fed being wide open. let's take a step back and take a look at the market now and the jobs market now compared to when we were last at 14,000. really ask the question, can stocks be this good if jobs are that bad? you can see we are still below the level of jobs in the economy that we had when we were last at this 2007 level at 14,000. so i did a little math on this. there are now 2.6 million fewer private sector jobs in the economy. 3 million fewer jobs overall. 2.5 million more people in the labor force. and the unemployment rate is up 3.2 percentage points at 7.9%. is that bad for the stock market? maybe the markets exist as potential down the road. in other words putting these people back to work. another huge consideration.
it's the economy. the economy seems to be doing better. i just wrote down seven things that were on the plus side. a bunch of them this morning. manufacturing, jobs, construction, autos. we got better numbers out of china. financial panic overall seems to be -- have abated a bit. and of course as carl mentioned the fed being wide open. let's take a step back and take a look at the market now and the jobs market now compared to when we were last at 14,000. really ask the question, can stocks be...
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and she was so much of our economy dependent on perpetual war we officially have a war economy which means we must continue this endless war or suffer suffer further economic ruin beyond what we're already experiencing you know the rampa joblessness declining wages and spiraling budget deficits on the local state and federal level. but drive around the washington d.c. suburbs in virginia and you'll see enormous palaces built in gated communities where the war profiteers reside in two thousand and eleven these are the five biggest war profiteers took home a profit of thirteen point four billion dollars they've been the real winners in this fallacy and bargain and it's difficult to rectify this wealth across the potomac with the desperation across america yes we've acquired our enormous wealth and power for the few but the day when we must hand over our national soul as part of this fallacy and bargain is quickly approaching do we really want to be a devilish empire that brings carnage to the rest the world where own population at home suffers we know how that story ends and ends in co
and she was so much of our economy dependent on perpetual war we officially have a war economy which means we must continue this endless war or suffer suffer further economic ruin beyond what we're already experiencing you know the rampa joblessness declining wages and spiraling budget deficits on the local state and federal level. but drive around the washington d.c. suburbs in virginia and you'll see enormous palaces built in gated communities where the war profiteers reside in two thousand...
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Feb 6, 2013
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it remains a fragile economy. you said earlier in this interview that you don't think that these sequesters will provoke a double-dip recession. but this isn't going to help where we are now, is it? >> right. that's exactly my point. i mean, what we're talking about here -- if you think of the economy as sort of a bicycle, what you want to see is it moving enough so it's not wobbly. if you're growing at 2.5% to 3% which by the way cbo said yesterday growth could be 3%. but for all of this fiscal restrax we've been talking about now you're talking about 1.5%. that's a wobbly bicycle. yes, instead of building on some of the smengsed. job growth has done a little better than expected. instead of building on that kind of momentum, we're talking about yet another self-inflicted wound. i don't know how many times i've sat in the chair whether it's debt ceiling, sequester. we have got to stop inflicting wounds on this economy. it is political malpractice. >> indeed, it is. jared bernstein and dana milbank, thank you so m
it remains a fragile economy. you said earlier in this interview that you don't think that these sequesters will provoke a double-dip recession. but this isn't going to help where we are now, is it? >> right. that's exactly my point. i mean, what we're talking about here -- if you think of the economy as sort of a bicycle, what you want to see is it moving enough so it's not wobbly. if you're growing at 2.5% to 3% which by the way cbo said yesterday growth could be 3%. but for all of this...
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Feb 6, 2013
02/13
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how did that help the economy? a lot because the government was out of the way of the economy. >> tracing the life of the 30th president of the united states sunday night at 8:00 on c-span's "q&a." >> the federal budget deficit will decline by $155 billion in 2013, according to a new congressional budget report. the upcoming spending cuts along with spending increases will slow economic growth this year. doug elmendorf, the congressional budget office director, spoke to reporters about the latest cbo projections. >> thank you all for coming. i am the director of the congressional budget office. cbo just released its outlook for the federal budget and the economy over the next decade. i would like to tell you a little about it, and then my colleagues and i will be happy to take your questions. our analysis shows that the united states continues to face very large economic and budget challenges. under current law, we expect the unemployment rate will remain above 7.5% through next year. that would make 2014 the sixth
how did that help the economy? a lot because the government was out of the way of the economy. >> tracing the life of the 30th president of the united states sunday night at 8:00 on c-span's "q&a." >> the federal budget deficit will decline by $155 billion in 2013, according to a new congressional budget report. the upcoming spending cuts along with spending increases will slow economic growth this year. doug elmendorf, the congressional budget office director, spoke...
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Jan 30, 2013
01/13
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money goes straight to the real economy. because you miss out on the money multiplier, you have to do so much of it. that's why the central bank balance sheets have ballooned. >> the fed will wrap up its two-day policy meeting with a decision due at 2:15 eastern. the fomc will stay the course, renewing its pledge to keep rates at historic lows until unemployment drops and maintaining its bond buying at $85 billion a month. there are new voters on the panel at this meeting. kansas city fed president esser george is viewed as a hawk. and boston will lead in thresholds, seeing the fed go even further. the u.s. economy likely grew at the lowest pace in nearly two years during the fourth quarter. that's according to estimates for the advanced gdp report. that's also due today around 8:30 a.m. eastern. reuters' analysts expect gdp to grow 1.1% annually. that can't be right. down sharply from 3.1% growth in the third quarter. the reason i wonder if the estimates are the latest is that after the stretch of data from the past week, s
money goes straight to the real economy. because you miss out on the money multiplier, you have to do so much of it. that's why the central bank balance sheets have ballooned. >> the fed will wrap up its two-day policy meeting with a decision due at 2:15 eastern. the fomc will stay the course, renewing its pledge to keep rates at historic lows until unemployment drops and maintaining its bond buying at $85 billion a month. there are new voters on the panel at this meeting. kansas city fed...
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Jan 31, 2013
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it schloyed down the economy. massive storm. >> dana: i hope that is -- i hope that is true. >> eric: be honest. this is some defense spending cuts that came out. the problem is if the whole economy is based on government spending only going to get growth -- >> dana: we are in trouble. >> eric: not a healthy economy. can't survive on its own. >> bob: sandy took out better part of the northeastern part of the country not producing -- they didn't have electricity. >> kimberly: not their sole responsibility. >> bob: a big part to do with it. >> eric: $15 trillion economy, hurricane in one quadrant won't put the whole economy in standstill. >> dana: when is the last time you read an article about plan or a new initiative or something to help improve unemployment rate? you just don't. >> bob: i differ with you. obama has a jobs bill in the house. [over talking ] it has been sitting there. >> dana: the house passed 29 bills they said were pro-growth and they haven't passed. >> bob: they may say it's pro-growth. i don't
it schloyed down the economy. massive storm. >> dana: i hope that is -- i hope that is true. >> eric: be honest. this is some defense spending cuts that came out. the problem is if the whole economy is based on government spending only going to get growth -- >> dana: we are in trouble. >> eric: not a healthy economy. can't survive on its own. >> bob: sandy took out better part of the northeastern part of the country not producing -- they didn't have electricity....
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a contraction in the economy is a disaster for real people. not beltway people or pundits or cbs reporters but real people. i can't believe the president is actually not talking to this. i mean off watching super bowl or something. he has got to be concerned. >> leslie, you rattled off some numbers. if the economy is so good and the obama recovery is happening and obama-nomics is working why are 48 million people on food stamps and the number we are spending on food stamps has tripled since he took over. >> i said this is not going backward. we are not double dip. we are not in a recession. when you look at the revisionary numbers and construction and healthcare are which everybody said would cost jobs and has created jobs according to the last report this is steady. slow, absolutely, no question. we are not going in the wrong direction. i think what this shows actually is that we don't need more cuts. i think the spending cuts have actually negatively affected the economy and we saw that with the gdp. >> i got about 15-20 second is. last word
a contraction in the economy is a disaster for real people. not beltway people or pundits or cbs reporters but real people. i can't believe the president is actually not talking to this. i mean off watching super bowl or something. he has got to be concerned. >> leslie, you rattled off some numbers. if the economy is so good and the obama recovery is happening and obama-nomics is working why are 48 million people on food stamps and the number we are spending on food stamps has tripled...
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Feb 4, 2013
02/13
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they had a totally unbalanced economy. what is happening under this government is a million private sector jobs, unemployment down since the election, the fastest way to business reaction in our recent history, a balance of payment service in cars. we are clearing up the mess they made. they are doomed to repeat the mistakes of the past because they haven't learned the lessons and that's what the british public will never trust them with the economy i can. [shouting] >> thank you, mr. speaker. like the prime minister, i want to see a fresh a settlement for euro. german beer drinkers made 13 times more duty than british drinkers. and spanish drinkers -- british drinkers paid 9.2% in spanish tankers and 10,000 more duty than spanish drinkers. will he take the chancellor for a pint? and do something for british pubs and british republicans speak with my honorable friend quite rightly speaks up for -- i remember visiting the great bravery with him during the last election. i'm sure the chancellor would have listened very caref
they had a totally unbalanced economy. what is happening under this government is a million private sector jobs, unemployment down since the election, the fastest way to business reaction in our recent history, a balance of payment service in cars. we are clearing up the mess they made. they are doomed to repeat the mistakes of the past because they haven't learned the lessons and that's what the british public will never trust them with the economy i can. [shouting] >> thank you, mr....
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it hurts the economy. remember these guys aren't paying taxes or investing in people or investing in the next iphone, they are not trying to put the super bowl on, they are criminals. when you buy something from these people your money is going to organized criminals overseas. dagen: how do you drive that message come from nfl fans? if i want to stick jersey, nike wasn't making one, i am going to go out and find it some way somehow? >> that is a great question. we work with licensees to make sure there's merchandize the fans want that are available for them at every price point. so that they are not tempted to go out and buy something from a counterfeiter. we work hard with licensees and local businesses in new orleans and elsewhere to make sure we can meet the demands. dagen: designed it to go to the game since he is in frugal in this crackdown on counterfeiters? did you get him a ticket? >> we would love to have him. dagen: i would buy a plane ticket and 5 were you. john morton and anastasia daniels on t
it hurts the economy. remember these guys aren't paying taxes or investing in people or investing in the next iphone, they are not trying to put the super bowl on, they are criminals. when you buy something from these people your money is going to organized criminals overseas. dagen: how do you drive that message come from nfl fans? if i want to stick jersey, nike wasn't making one, i am going to go out and find it some way somehow? >> that is a great question. we work with licensees to...
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Jan 31, 2013
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so, what we really need is growth to come back into the economy. for me, ronald reagan, margaret thatcher, said let people keep more of their own money and then people invest in their businesses or invest in themselves go out to dinner, a movie. thatthat's economic growth. >> you're absolutely correct. and look, the numbers are clear. if we were growing at three to four, five%, which is not out of the realm of possibility, happened under ronald reagan -- we could grow our way out of this problem. eric, you're not going to be able to tax your way out or cut your way out of this. we have to create growth. how could we create going to? unfortunately the head of the imf told us we need confidence in our currency, we need confidence in legislation coming out of washington, dc. you know from fox business, the balance sheets look very good in corporate america right now. if they had some stability from a government and people had money to spend, we'd grow our way right out of this. >> more money to spend, more things to buy, more economic activity. today
so, what we really need is growth to come back into the economy. for me, ronald reagan, margaret thatcher, said let people keep more of their own money and then people invest in their businesses or invest in themselves go out to dinner, a movie. thatthat's economic growth. >> you're absolutely correct. and look, the numbers are clear. if we were growing at three to four, five%, which is not out of the realm of possibility, happened under ronald reagan -- we could grow our way out of this...
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Feb 3, 2013
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what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ progress-oh! -oh! -oh! oh! oh! ♪ wh do you know? oh! ♪ bacon? -oh! -oh! oh! [ female announcer ] with 40 delicious progresso soups at 100 calories or less, there are plenty of reasons people are saying "progress-oh!" share your story for a chance to win a progress-oh! makeover in hollywood. go to facebook.com/progresso to enter. >> eric: on "fox news sunday", two leaders in the national gun control debate. former astronaut and the husband of wounded former congresswoman gabrielle giffords, captain mark kelly, and the ceo of the national rifle association, wayne la pierre. >> the most basic right is to protect yourself, and the american public wants
what we need are people prepared for the careers of our new economy. by 2025 we could have 20 million jobs without enough college graduates to fill them. that's why at devry university, we're teaming up with companies like cisco to help make sure everyone is ready with the know-how we need for a new tomorrow. [ male announcer ] make sure america's ready. make sure you're ready. at devry.edu/knowhow. ♪ progress-oh! -oh! -oh! oh! oh! ♪ wh do you know? oh! ♪ bacon? -oh! -oh! oh! [ female...
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the economy? what do you say? >> i don't think the president is correct on that. strong growth of a seven, 8% growth rate and we are not going to get anything like that, this is not ronald reagan, believe me when i tell you that. this is not jack kennedy. bill clinton did a great job as well. this isn't even bill clinton. the policies they have put into place are antigrowth. stuart: are we headed into a recession? >> i don't know. the fourth quarter 2012, all we need is one more quarter down and that would be the official definition of a recession, so we are close. i think it is pretty rocky, to be honest with you, for the next year. i don't agree with the president, although i would love him to be right and we get very good growth, but i think this next year will be a very tough year. stuart: art laffer joining us from the retirement capital of america, tennessee. is that true? >>> no, we're all hard working people. that is all, stuart. stuart: thank you, art. the dow down 100 points, off 101. th
the economy? what do you say? >> i don't think the president is correct on that. strong growth of a seven, 8% growth rate and we are not going to get anything like that, this is not ronald reagan, believe me when i tell you that. this is not jack kennedy. bill clinton did a great job as well. this isn't even bill clinton. the policies they have put into place are antigrowth. stuart: are we headed into a recession? >> i don't know. the fourth quarter 2012, all we need is one more...
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Feb 5, 2013
02/13
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the stock market is very close to how the economy grows, and the economy's growing nicely. the other thing i would keep reading about, i listened to nur yule this morning talking about 1.5% growth or 2% growth. i hear everybody say that. that's not the growth. the growth is 6% or 7%. so last year for example the growth in our economy was 6.8%. 15.8 trillion the year before was 14.8 trillion. so what people keep forgetting, they give you real growth, but the nominal growth is the number that is affecting everyone and the stock market, the reason stocks are interesting is they're giving you a hedge against inflation. so inflation is 4% or 5% a year. not 2%. that's how come you have 15.8%, 15.8 trillion dollar gdp to 14.8 trillion a year ago. stocks are the only real hedge against that. so you can invest in vanguard fund and that's the return you get. >> ron it's sorkin. nouriel is still here so let's get your perspective on this. >> i have a question you know the growth rate of the economy was about 3%. some people now worry closer to 2.5% or less. we have public debt as a sh
the stock market is very close to how the economy grows, and the economy's growing nicely. the other thing i would keep reading about, i listened to nur yule this morning talking about 1.5% growth or 2% growth. i hear everybody say that. that's not the growth. the growth is 6% or 7%. so last year for example the growth in our economy was 6.8%. 15.8 trillion the year before was 14.8 trillion. so what people keep forgetting, they give you real growth, but the nominal growth is the number that is...
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Jan 31, 2013
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the economy is not growing. we expected something different because the jobs numbers look pretty good. >>steve: our economy at the moment is contracting, and that's -- look, a whole bunch of excuses as to why this is happening. years ago it was the tsunami. that's what's hurting. then it was the wicked europeans. then it was those wicked republicans. now of course it's president bush all over again. or sanding or lower defense spending. there's always an excuse. the fact is we've spent an enormous amount of money -- trillions of dollars -- building up our bureaucracy. we've got a bureaucratic mess on our hands and we don't have a vibrant economy. what you're talking about here is this duplicative funding for research. they ran all these research grants through the computer, subtracting software that comes up with duplication, and they found dozens of examples at a cost of $70 million since 2002, where we're spent twice for the same research. now, that's not a lot of money. understood. but it's typical of what yo
the economy is not growing. we expected something different because the jobs numbers look pretty good. >>steve: our economy at the moment is contracting, and that's -- look, a whole bunch of excuses as to why this is happening. years ago it was the tsunami. that's what's hurting. then it was the wicked europeans. then it was those wicked republicans. now of course it's president bush all over again. or sanding or lower defense spending. there's always an excuse. the fact is we've spent an...
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Feb 2, 2013
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how is the economy doing? what is the snerkt the economy that is adding jobs? it is the health care sector of the economy. i think it is -- that's partly because it is a dynamic sector coming up with incredible innovations, the amount of exciting discoveries that are looming on the horizon are bigger in health care than other parts of the economy. that's the positive. the hard side is it is a complicated side. the reason why we don't leave health care to the private sector because it is complicated. we don't look at someone on the street and say sorry you don't have insurance so too bad for you. we as society is going to take care of that person. that is what puts the government in this position. it was an incredibly important step. it is a lot like dodd-frank that the basic framework was sound. the devil is going to be in the details. we're in this 2013 on how we ramp this up and all the regulations that go in, the insurance exchanges so people can have a place to buy insurance at the start of 2014. that is going to be a huge thing to imme innocent over the ne
how is the economy doing? what is the snerkt the economy that is adding jobs? it is the health care sector of the economy. i think it is -- that's partly because it is a dynamic sector coming up with incredible innovations, the amount of exciting discoveries that are looming on the horizon are bigger in health care than other parts of the economy. that's the positive. the hard side is it is a complicated side. the reason why we don't leave health care to the private sector because it is...
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that larger than the economy, and it will stay that way for decades. lou: until everyone understands that there has to be a prudent, rational, fiscal policy pursued by both parties, we are on the verge, and seems to me, being a detonation in perpetuity. when you talk about growth, the only way to read at least deal with the problems that face us now is to restore growth. as you said, the big issue is growth. at think some of the most optimistic projections i have ever seen from a president whose economy is contracting combat least at the time he made the projectionon. are you kidding me? >> it is just not oing to happen in these circumstances, and that is one of the great fiction is that is being pushed at the american people is that we have to choose between gross and fixing our budget. we don't. fixing the budget is part of better growth. it is simply not a good growth policy to sail straight toward a fiscal disaster which is a we're heading for right now. we would be well advised to do a u-turn on the budget. we need a sensible, rational, bipartisan
that larger than the economy, and it will stay that way for decades. lou: until everyone understands that there has to be a prudent, rational, fiscal policy pursued by both parties, we are on the verge, and seems to me, being a detonation in perpetuity. when you talk about growth, the only way to read at least deal with the problems that face us now is to restore growth. as you said, the big issue is growth. at think some of the most optimistic projections i have ever seen from a president...
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economy as the commerce department announced that our economy shrank of a rate of .1%. with the unemployment rate at 7.8% and consumer confidence in decline. there is only one way for democrats to react, as usual blaming republicans. it started with jay carney during a press briefing that we were facing a major headwind and that being the republicans in congress. moments later. house minority leader nancy pelosi saying, quote, disappointing g.d.p. report is direct result of the economic uncertainty created by the house republicans strategy of obstruction and manufactured crisis. will they ever take blame? will they wake up and realize that obama has been in office for more than four years? here is the reaction, david avilla and economist, professor jeffrey frankel. how are you? it's bush's fault for four years. both houses of congress, two of those years, the president got everything he wants passed. isn't it time for put his pangts on like a man and accept responsibility like a man. $6 trillion in debt, 50 million americans in o food poverty. one in six in poverty. one
economy as the commerce department announced that our economy shrank of a rate of .1%. with the unemployment rate at 7.8% and consumer confidence in decline. there is only one way for democrats to react, as usual blaming republicans. it started with jay carney during a press briefing that we were facing a major headwind and that being the republicans in congress. moments later. house minority leader nancy pelosi saying, quote, disappointing g.d.p. report is direct result of the economic...
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economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. i honestly loved smoking, and i honestly didn't think i would ever quit. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. it put me at ease that you could smoke on the first week. [ male announcer ] some people had change
economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money...
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Feb 5, 2013
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we are in a stagnant economy in america. we need to grow the economy the best way we can, to do that with inexpensive fossil fuel, oil, gasoline, allow people to get their products and goods and services to markets. >> shannon: all right. we've got to turn now to the white house where we understand we are just about to hear from the president of the united states. >> the decisions that we face on our budget and on our deficit. these are decisions that will have real and lasting impacts on the strength and pace of our recovery. economists and business leaders from across the spectrum have said that our economy is poised for progress in 2013. we've seen signs of this progress over the last several weeks. home prices continue to climb, car sales that are a -- are at a five-year high, manufacturing has been strong, and we've created more than six million jobs in the last 35 months. but we've also seen the effects that political dysfunction can have on our economic progress, the drawn-out process for resolving the fiscal cliff hu
we are in a stagnant economy in america. we need to grow the economy the best way we can, to do that with inexpensive fossil fuel, oil, gasoline, allow people to get their products and goods and services to markets. >> shannon: all right. we've got to turn now to the white house where we understand we are just about to hear from the president of the united states. >> the decisions that we face on our budget and on our deficit. these are decisions that will have real and lasting...
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Jan 29, 2013
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blaming the president for the economy. now we see that his policies have actually worked but they are moving us forward, that we are coming out of this slump. so it takes away a lot of that ammunition as well. >> now, abby, we see that even a gallup poll says americans are feeling more positive about the economy, more positive than they have since january of 2008. yet the gop came out from the beginning slamming the president's handling of the economy. listen to this. >> this president tried, but he didn't understand what it takes to make our economy work. >> we have a president who believes in a european socialist model. >> we got a president living at 1600 pennsylvania avenue that just doesn't understand our economy. >> this might be the last election to turn the nation around before we go down the road to socialism. president obama and his socialist policies must be stopped. >> so the gop's slamming the president hard. they were supposed to be the gop fix-it party on the economy. your father was ridiculed by the far rig
blaming the president for the economy. now we see that his policies have actually worked but they are moving us forward, that we are coming out of this slump. so it takes away a lot of that ammunition as well. >> now, abby, we see that even a gallup poll says americans are feeling more positive about the economy, more positive than they have since january of 2008. yet the gop came out from the beginning slamming the president's handling of the economy. listen to this. >> this...